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This week’s Market Insights Report looks at the spring market, with data showing it extending into a seventh week. The report also offers a glimpse into the latest Specialty Markets, and a spotlight on the three-year retention trends of Compact Vans, which have shown really strong performance this year. Model Year 2016 values are currently at 49% of MSRP, the strongest three-year retention seen in four years.
“Markets registered a slight uptick last week, even after car prices have been up for seven consecutive weeks,” said Anil Goyal, Executive Vice President, Operations for Black Book.
Specialty Markets Update
Collectibles: So far, 2019 has been a great year for collectible vehicle auctions. It seems that every week we hear about another record setting performance. We’re seeing a significant surge in the interest in later model or nearly new exotics, especially if they are “as new” with little or no miles.
Recreation Vehicles: Spring has officially arrived, and many dealers have been reporting increased activity on their lots. Auction volume was up slightly over last month, with wholesale prices increasing as well.
Powersports: The Powersports market sees steady gains for May as we enter the height of the spring selling season. Most segments are up, but by smaller amounts than last month, with entry-level, mid-size, and sport bikes seeing the greatest demand.
Heavy Duty: Whether the need for late model used over the road and regional units is becoming satisfied or not, the miles they are showing on their ECM alone is really affecting their value.
Medium Duty: Used truck prices continue to fall as an increase in new and used inventory continues to add downward pressure on the overall market.